Entrepreneurs await rules for crowd-funding

2:41 PM,
Jan. 21, 2013

Webster City, Iowa, electrician and inventor Brad Martin recently designed a grenade-shaped bottle opener, and has already received a lot of interest for his invention. Entrepreneurs like Martin are waiting for the Securities and Exchange Commission to develop rules regarding crowd-funding for businesses.

Written by

Marco Santana
| Gannett

In April, President Barack Obama signed the bipartisan Jumpstart Our Business Startups Act into law. The entrepreneurial community cheered, saying the law would help small businesses raise money during their most vulnerable periods, when companies try to move from early to late stage.

"The thing that kills startups is not having enough initial investments," said lawyer Marc Ward of Des Moines, Iowa.

More than nine months later, the Securities and Exchange Commission still has not said when the rules would be unveiled. SEC officials said that they typically don't release timelines ...